Weekly stock market roundup

NIFTY halt five-week winning run amid weak Global cues. The 50-share NSE index NIFTY fell 0.57% to finish at 10618.25 on Friday. The Indian benchmark index NIFTY continued their losing run for the third straight day and snapped a five-week winning streak on weak global cues. The sentiment at traders and investors’ desk remained subdued on US-China trade talks and weak global cues.

Looking overseas, European markets trading mixed tracking Asian markets which finished mixed on Friday. The global investors are cautions on the outcome of US-China trade talks ahead of key economic data.

Nine out of eleven sector gauges compiled by the NSE ended lower led by NIFTY PHARMA, NIFTY AUTO, NIFTY FMCG, NIFTY METAL and NIFTY MEDIA as top losers. On the flip side, NIFTY BANK and NIFTY PVT BANK are only gainers.

From the NIFTY 50 basket of shares, SUNPHARMA, ITC, BAJAJ-AUTO, YESBANK, VEDL, EICHERMOT and AXISBANK underperformed as top losers while ADANIPORTS, GAIL, TECHM and HINDUNILVR are top gainers.

Top stocks to watch on Monday 07 May

HEXAWARE: This stock plunged by 14.48% and to close at Rs.387.9. This stock trading volume rose by 555 percent with numerous trades were intraday in nature. Derivative traders were aggressive in adding short positions and Open interest increased by 50.97%. This stock is trading below its recent support zone and the near-term resistance is seen around Rs,451.

PCJEWELLER: This stock surged by 43.8% and settled at Rs.174.65. This stock trading volume increased by 276 percent with majority of them are settled intraday. Derivative traders were aggressive in exiting short positions and Open interest reduced by 19.87%. This stock currently trading around the lower range of its price band and the crucial support zone is around Rs.156.

NIITTECH: This stock trading volume hiked by 163 percent with numerous trades were intraday in nature.  This stock is frequently breaking low for 3 days and trading inside the trading range. This stock support is seen around Rs.872 and resistance is seen around Rs.1153.

L&TFH: This stock Increase by 2.68% and finished at Rs. 176.35. This stock trading volume increased by 281 percent with numerous trades were intraday trades. This stock is currently settled above the recent resistance zone and the short-term support is around Rs.162.

JUSTDIAL: This stock surged by 13.98% and settled at Rs.435.75. This stock did rise in the last trading session but fell by a significant margin on a weekly basis. Derivative traders were aggressive in exiting short positions and Open interest reduced by 14.37%. This stock is trading inside the trading range and the support is seen around Rs.409 and resistance is seen around Rs.476.

AJANTPHARM: This stock plunged by 5.43% and closed at Rs.1199.25. This stock trading volume rose by 76 percent with numerous trades were intraday trades.  This stock is continuously scaling down for 6 days & trading below its recent support zone and the near-term resistance is seen around Rs.1414.

Q4 Result Insights

Ambuja Cement

  • Sales volume growth of 3.3 percent YoY basis at 6.22 million tonnes 

  • Healthy top line growth of 9% on a YoYbasis attributable to improved realisations and sales growth of premium brands – Compocem and Roof Special.

  • Productivity improvements combined with cost saving measures contributed to an Operating EBITDA increase of 29% compared to the corresponding quarter of the previous year.

  • Power & fuel cost jumped 18 percent YoY to Rs 635.11 crore and freight & forwarding expenses increased 12 percent to Rs 828.82 crore in March quarter.

  • Earnings per share stood at Rs.1.96, an increase of 33% in march quarter.

  • Consolidated PAT up by 30% in this quarter and Consolidated Operating EBITDA up by 24% in this quarter.

  • The combined annual cement capacity of both the companies (Ambuja cement and Acc cement) stands at 63 million tonnes.

Viewpoint: As the economy is going to grow strongly in 2018 on the back of higher demand spurred by the government’s focus on infrastructure development (roads, highways, irrigation projects and railways), housing and increased rural spends, ambuja is ready to capitalize on the growth of Indian infrastructure.